I started up my LLC then went head first into a deal.

I'd sell that puppy so fast it would make your head spin!

In addition, how about all the other expenses associated with rentals?

I sure hopes that someone on his staff slaps him upside the head and makes him retract.

I live in North Jersey, Bergen County and am looking for some places where I could buy property that'll cash flow.I wanted to get people's opinions on Jersey City; where do you think the city is heading, the good/bad areas in the city and any other opinions you have on JC.

A local Realtor associate told me today that it is against federal banking law, but again I don't know if this is true or not.

You hit the nail on the head with this statement Scott; "Remember - If you have a good shooting stance, you are neither running fast enough nor using cover effectively."

Never mind all the costs associated with the two transactions, the new roof that had to be put on, the new sewer line, the city's assessment for sidewalks, four coats of paint and a complete set of appliances.So, do I think you should buy this new residence at retail?

Most banks get a number in their head and they don't budge, even if you show them piece after piece of evidence that their valuation isn't realistic.

What you do have to consider on the condo is potential association dues, possible rent wars/competition with other landlords in the complex, possibly lower future appreciation values on the condo vs. sfr, etc.